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HRM3705 Assignment 7 (COMPLETE ANSWERS) Semester 2 2024 - DUE 1 November 2024 R50,00
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  3. University Of South Africa (Unisa)
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  5. Remuneration Management (HRM3705)

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HRM3705 Assignment 7 (COMPLETE ANSWERS) Semester 2 2024 - DUE 1 November 2024
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HRM3705 Assignment 7 (COMPLETE ANSWERS) Semester 2 2024 - DUE 1 November 2024; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us...Read the article entitled SA faces exodus of skilled artisans in the wake of lacklus...

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HRM3705
Assignment 7 Semester 2 2024
Detailed Solutions, References & Explanations

Unique number:

Due Date: 4 November 2024

QUESTION 1

Aligning an organization's remuneration strategy with its overall objectives is crucial for
retaining skilled artisans, especially in light of recent wage agreements in South Africa's metal
and engineering industry. The Solidarity Trades’ Network has expressed concerns that the
current wage deal may lead to an exodus of skilled workers, highlighting the need for a
strategic approach to compensation.

1. Alignment of Remuneration Strategy with Organisational Goals

An effective remuneration strategy should reflect the organization's goals, such as attracting
and retaining talent, ensuring employee satisfaction, and maintaining competitiveness. In the
article, the wage agreement offers a 6% increase for Rate A workers (skilled artisans) in the
first year, followed by 5% in subsequent years, while Rate H workers receive 7% and 6%
increases, respectively. This disparity suggests a misalignment, as it undervalues skilled
artisans, potentially leading to dissatisfaction and turnover. Organizations aiming to retain top
talent must ensure that compensation packages are competitive and commensurateTerms
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